Cocoa news

Ivory Coast’s Cocoa Espresso Council (CCC) has determined to public sale all of its cocoa manufacturing to exporters prematurely in an effort to set assured value all through the season for producers, CCC sources stated on Wednesday.

The Chief Executive Officer (CEO) of Ghana Cocoa Board, Hon. Joseph Boahen Aidoo, has tasked employees of cocoa processing and buying companies to lead the campaign for the consumption of cocoa locally.

The Chief Executive Officer (CEO) of Ghana Cocoa Board, Joseph Boahen Aidoo has cautioned purchasing clerks of Licenced Buying Companies (LBCs) against criminally adjusting their weighing scales as a means of enriching themselves at the expense of the poor farmers.

Agronomists and farmers in Ivory Coast, the world's top cocoa producer, told Reuters that plantations needed regular sunshine and occasional rains in the coming weeks to help tree roots to breathe and allow small pods to mature.

The Ghana Cocoa Board (COCOBOD) is to pump 600 million dollars into the cocoa sector industry to resuscitate the sector in the country, Mr Joseph BoahenAidoo, the Chief Executive Officer of COCOBOD, announced.

The governments of Ghana and Cote d'Ivoire are close to securing a $1.2 billion loan from the African Development Bank to undertake programmes and interventions that will make the cocoa industry attractive to the youth.

A US$1.3 billion trade finance facility between Ghana Cocoa Board (COCOBOD) and a consortium of banks and financial institutions for the purchase of cocoa for the 2018/2019 crop season has been approved by the parliament.